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MAR 11,2009 Charleston Management Corp.

Page 1
11:33AM Harrington Grove HOA
Balance Sheet for February 28, 2009 (cash basis)

Current Assets:
Cash -North State Bank 65,130.72
Delinquent Dues A/R 14,213.75
Investment, CD Gateway Bank 4/7/09 3.75% 50,000.00
Investment, CD NS Bank 12/15/09 3.30 29,698.66
Investment, CD NS Bank 6/15/09 3.35% 51,606.31
Investment, CD RBC 7/19/09 3.9% 100,000.00
Investment, Capital Bank 5/31/2010 4% 100,000.00
Reserve - M/M, North State Bank 49,043.24

Total Current Assets 459,692.68

Liabilities and Fund Balances:


Fund Balance - Future Reserve 327,670.30
Fund Balance - Operating 103,036.19
Excess (Deficiency) of Revenues over Expenses 28,986.19

Total Liabilities and Fund Balances 459,692.68

(unaudited)
MAR 11,2009 Charleston Management Corp. Page 2
11:33AM Harrington Grove HOA
Income Statement for February 28, 2009 (cash basis)
Current Month Year-to-Date
Budget vs Budget vs Annual
Amount Budget Actual $ Amount Budget Actual $ Budget
Revenues:
Accounts Receivable Adjustments (3,088.00) 0 (3,088.00) 4,073.17 0 4,073.17 0
Interest Income 18.91 0 18.91 40.73 0 40.73 0
Late Fee Charge 0.00 583 (583.00) 0.00 1,167 (1,167.00) 7,000
Newsletter Ad Revenue 260.00 100 160.00 260.00 200 60.00 1,200
Owner Dues 4,907.97 0 4,907.97 76,567.75 68,255 8,312.75 273,020
Previous year gain 0.00 0 0.00 0.00 5,509 (5,509.00) 5,509
Violation Income 0.00 33 (33.00) 0.00 67 (67.00) 400

Total Revenues 2,098.88 716 1,382.88 80,941.65 75,198 5,743.65 287,129

Operating Expenses:
Administration
Easement-S&R Club 0.00 0 0.00 0.00 3,500 (3,500.00) 3,500

Totals for Administration 0.00 0 0.00 0.00 3,500 (3,500.00) 3,500

Utilities
Electric 276.77 250 26.77 360.26 500 (139.74) 3,000
Water 28.21 92 (63.79) 31.41 183 (151.59) 1,100

Totals for Utilities 304.98 342 (37.02) 391.67 683 (291.33) 4,100

Grounds
Grounds Contract 4,989.00 5,056 (67.00) 9,978.00 10,111 (133.00) 60,668
Grounds Extra/Improvement 2,925.00 2,500 425.00 3,610.00 5,000 (1,390.00) 30,000

Totals for Grounds 7,914.00 7,556 358.00 13,588.00 15,111 (1,523.00) 90,668

Maintenance
Fence maintenance 0.00 100 (100.00) 0.00 200 (200.00) 1,200
Sign Maintenance 216.19 83 133.19 372.30 167 205.30 1,000

Totals for Maintenance 216.19 183 33.19 372.30 367 5.30 2,200

Professional Fees
Accounting - CPA 0.00 0 0.00 0.00 0 0.00 2,600
Legal fees-ARC 0.00 92 (92.00) 0.00 183 (183.00) 1,100
Legal-Opinion 395.00 167 228.00 443.75 333 110.75 2,000
Legal/Collection Fees 1,747.25 250 1,497.25 1,246.75 500 746.75 3,000
Management Contract 5,148.00 5,148 0.00 10,296.00 10,296 0.00 61,776
Misc. Operating Reserve 0.00 34 (34.00) 0.00 68 (68.00) 406

Totals for Professional Fees 7,290.25 5,691 1,599.25 11,986.50 11,380 606.50 70,882

(unaudited)
MAR 11,2009 Charleston Management Corp. Page 3
11:33AM Harrington Grove HOA
Income Statement for February 28, 2009 (cash basis)
Current Month Year-to-Date
Budget vs Budget vs Annual
Amount Budget Actual $ Amount Budget Actual $ Budget
Taxes and Insurance
Income Taxes 976.00 0 976.00 976.00 0 976.00 1,000
Insurance 0.00 483 (483.00) 3,475.68 967 2,508.68 5,800

Totals for Taxes and Insurance 976.00 483 493.00 4,451.68 967 3,484.68 6,800

Recreation
Playground Equipment/Maintenance 0.00 63 (63.00) 0.00 125 (125.00) 750

Totals for Recreation 0.00 63 (63.00) 0.00 125 (125.00) 750

Miscellaneous Expense
Bad Debt 0.00 125 (125.00) 0.00 250 (250.00) 1,500
Community Action 0.00 192 (192.00) 0.00 383 (383.00) 2,300
Newsletter 0.00 500 (500.00) 0.00 1,000 (1,000.00) 6,000
Postage 897.98 625 272.98 1,010.28 1,250 (239.72) 7,500
Printing 2,173.20 667 1,506.20 2,974.79 1,333 1,641.79 8,000
Rewards & Recognition 0.00 42 (42.00) 0.00 83 (83.00) 500
Security 9,870.40 4,829 5,041.40 9,870.40 9,658 212.40 57,949
Social 0.00 500 (500.00) 0.00 1,000 (1,000.00) 6,000
Vandalism 143.95 83 60.95 143.95 167 (23.05) 1,000
Website 0.00 67 (67.00) 150.00 133 17.00 800
Welcome Committee 0.00 250 (250.00) 0.00 500 (500.00) 3,000

Totals for Miscellaneous Expense 13,085.53 7,880 5,205.53 14,149.42 15,757 (1,607.58) 94,549

Capital Contribution
Capital Reserve Contribution 1,140.00 1,140 0.00 2,280.00 2,280 0.00 13,680

Totals for Capital Contribution 1,140.00 1,140 0.00 2,280.00 2,280 0.00 13,680

Total Operating Expenses 30,926.95 23,338 7,588.95 47,219.57 50,170 (2,950.43) 287,129

Excess (Deficiency) (28,828.07) (22,622) (6,206.07) 33,722.08 25,028 8,694.08 0


Operating Fund Revenues
Over Operating Fund Expenses

(unaudited)
MAR 11,2009 Charleston Management Corp. Page 4
11:33AM Harrington Grove HOA
Income Statement for February 28, 2009 (cash basis)
Current Month Year-to-Date
Budget vs Budget vs Annual
Amount Budget Actual $ Amount Budget Actual $ Budget
Capital Expenses:
Capital Expenses
Capital - Fence Replacement/Repairs 4,262.00 0 4,262.00 4,262.00 0 4,262.00 0
Capital-Signs Expense 0.00 0 0.00 473.89 0 473.89 0

Totals for Capital Expenses 4,262.00 0 4,262.00 4,735.89 0 4,735.89 0

Total Capital Expenses 4,262.00 0 4,262.00 4,735.89 0 4,735.89 0

Excess (Deficiency) (33,090.07) (22,622) (10,468.07) 28,986.19 25,028 3,958.19 0


Operating Fund Revenues
Over All Expenses

(unaudited)